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The Attorney General and Minister for Justice, Dr. Dominic Ayine, has announced that the state will prosecute Wontumi Farms and its directors over alleged financial crimes involving the Ghana Export-Import (EXIM) Bank.
According to Dr. Ayine, investigations conducted by the Economic and Organised Crime Office (EOCO) have uncovered sufficient evidence to support charges of defrauding by false pretences, forgery, and causing financial loss to the state.
The alleged financial loss currently stands at GH¢24,255,735, representing the principal amount involved and accrued interest. Addressing the media in Accra on Monday, December 22, 2025, the Attorney General explained that the figure could increase further due to compounded interest before charges are formally filed.
Dr. Ayine disclosed that prosecution will commence after the Christmas break, once the exact outstanding amount is confirmed by EXIM Bank.
“In the face of the evidence we have gathered in this investigation, thoroughly conducted by EOCO, we have made the decision to prosecute Wontumi Farms and its directors with defrauding by false pretences, forgery, and causing financial loss to the state in the sum of GH¢24,255,735,” he stated.
“This amount represents the principal sum plus accrued interest. By the time we file the charges after the Christmas break, the figure may increase because interest on the principal continues to compound. We will therefore obtain the final figure from EXIM Bank before proceeding to court,” he added.
The decision follows EOCO investigations into a loan transaction involving Wontumi Farms, linked to its director, popularly known as Chairman Wontumi. Dr. Ayine had earlier revealed that the company secured a GH¢4 million loan from EXIM Bank using a forged document.
Investigations showed that Chairman Wontumi submitted a falsified receipt purportedly issued by Casama Enterprise to support the loan application. The document claimed payment for heavy-duty farming and industrial equipment, including bulldozers and excavators.
However, EOCO established that the document was originally a proforma invoice, not a receipt. The word “invoice” was allegedly altered to read “receipt” and presented to the bank as proof of payment. The owner of Casama Enterprise later confirmed that no payment had been made and that only a proforma invoice had been issued to Wontumi Ghana Limited.
Dr. Ayine noted that despite assurances to complete the purchase, the transaction was never finalised, even though the forged receipt indicated that the full GH¢4 million had been paid.
The Attorney General said the case underscores the government’s commitment to enforcing accountability and protecting state financial institutions from fraud. He assured the public that the prosecution will proceed once all required documentation from EXIM Bank is completed and filed in court.
